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to southern europe. >> and then south korea's presidential election, yes, it's not just japan, and what to expect from the winner. >>> let's just plug you into where we are with this global market. more now on the global trading day in europe. 5-4 advances just about outpace decliners on the dow jones stoxx 600. most european stocks were up yesterday. the dax up 13 points. the dax, second highest close of the year, still up 27.5% for the year. right now, the ftse sound, the cac kron, closed at a fresh 52-week high. and the ftse is up 13 points despite falls from italian banks. let's show you where we are as far as the bond yields are concerned. we just check in. italian yields, 4.4% on the year. we'll show you the twos and tens, as well. i'll give you more on how that compares to where we closed yesterday. so the two-year, that's the low where we were yesterday. 10-year spanish yields, 5.581%. two-year yield, 2.35%, kind of where we were yesterday, too. and they're continue to go appreciateslide slightly from yesterday's close. as far as currency markets, 1.2880 was the two-week low on
's take a look at how markets are trading. stoxx europe 600 is down about .6% this morning, this after word that house speaker john boehner's plan b didn't come to a vote last night. he couldn't get them in place apparently. we'll have plenty more on the impact of that on the program. not much here, we see decliners well outpacing advancers. the ftse mib in italy down .6%. the ibex down .4%. the dax selling off .5% lower than yesterday. same goes for the ft. if it is, down .8%. 5909. how quickly we've gone from talking about 6,000 to talking about 5,900. the german bund rallying. same goes for the uk. we're seeing a rotation into safety, out of risk and out of spain and italy. about 4.5% for italy. thin trading in markets is exacerbating the move that we're seeing as we approach the year. today, the austy dollar is weaker against the u.s. dollar by about .4%. proxy there for global growth prospects. the dollar/yen is weaker by about .25%. this as markets digest the news out of the boj and gauge whether they'll be successful in boosting inflation ultimately. the euro/dollar, 1.3221. so
. as america stood on the edge of american leadership, europe entered a decade in which it convinced itself war was impossible. the book, grand illusion, captured the view that europeans were too advanced, too sophisticated to fight each other. john maynard keynes a code this with his famous observation about how the world was tied together, how an englishman could order from his doorstep products from faraway lands and have them delivered to him. it's kind of an early version of thomas friedman's theory which claims an advanced country that used computers won't go to war with each other. i call it the starbucks to pick any two countries that have starbucks won't fight. you know, i guess unless they have like a triple espresso to another observer, in a much different way, posited that war would be so bloody and weaponry so deadly that no one would dare risk a conflict. all of these assume that european leaders would be rational, a stretch even in the present day. this, of course, vanished in august 1914, a war sparked by one of the most unlikely of accident when ferdinand on his way back from s
, is that we are at a true juncture. are we going to go the way of western europe or the exceptional capabilities which attract entrepreneurs for over 200 years and this is why the huge growth of government is not about numbers of gdp. it creates dependence rather than independence. it does your sense of ability to solve problems. surgery of the free markets are sensible rules of the load and creativity, get a chance to get ahead and get these ever widening circles of cooperation, breaking down barriers and enabling people to realize their dreams or do we have the same for your bread into custody and wait for the government to rise in the street like you see in europe. worse at dynamism going to come from? yes its trust to verify, but you get the rise of the internet. they get richer and deeper. and enable people to do more. that doesn't come from government. that comes from what the opportunity, with the problem, how do we solve it? this way steve jobs touched such a chord when he died late last year is precisely people sense. this is living by james had hoped 10 but anyone which th
consultants are helping greek companies. donations, why saudi arabia is building mosques in europe. and child abuse, why british victims are speaking out now. it is official -- cyprus is the latest patient that needs an injection of aid amounting to billions from its european partners. in these times of crisis, it has become obvious that the small country relied on its fine it -- financial sector to much, and toxic loans and bad speculation eventually tipped to the banks over the edge, so now cypress wants to be bailed out by europe. in return, international lenders want cyprus to introduce reforms and strict austerity measures. these would involve job losses and pay cuts, which is bad news for many cypriots who are already struggling to pay their bills. >> a decade ago, this dancer and musician was a star in cyprus, performing in clubs or appearing on television every night. women were at his feet. they called him the palomino of nicosia -- the ballerino of nicosia. now he and his wife sit at home with their son. the family have debts they cannot repay. they have three loans adding up to mor
that they're seeing in europe enough to keep them above the pencil line. >> what we've seen so far with today's numbers is exports are declining very sharp. they'll need asia and the u.s. to offset some of that demand weakness, but again, the biggest market for most is the euro zone. if the eurozone is performing badly, that will have a thok-on effect for those countries. >> there's a number of strategists saying after the u.s. has sort of led equities for most of the year, they're now saying europe is the place to be. from i think really the question you have to ask yourself is when cash, equities, credit, government bonds, where do you want to be. and equity in my mind mind is absolutely not. you need good growth numbers to justify the equity markets going up. now, i think there's a lot of investors looking at the yields on ghoechlt bonds or credits and that's motivating them to move into equity. i think the numbers are actually going to be relatively small. and i would certainly advocate against doing that because as you were saying, weak numbers, unless you see some much strong
previously thought, although the session still looks very much on course for another quarter here for europe. the pmi will rise above 50 that divides growth between contraction. hasn't stopped the euro/dollar from hitting a one and a half month high. i suppose we know growth is going to be anemic, but if spanish banks are getting some money, are we feeling slightly better? >> that's what euro trades on, isn't it? pmis are all very interesting for the economist. but they want bigger stories. most of the news flow, it's helpful to the euro. people have been trying to affect this rally for a while. we are close to those october highs. the news flow has been good, i would say. >> we hit, what, nearly 131.80? >> before that, we go 131.40. the enthusiasm for euro is surprisingly good. we're surprised by how far this rally has gone on pretty thin news sometimes. >> i just want to recap what we've got. eurozone finance ministers meeting in brussels. an agreement still seems pretty elusive at this moment. germany and french finance ministers have very different views about oversight of banks. and in
next month. tech stocks fall in europe after ericsson unveils a swedish crown writout related to its loss chip venture. >>> reports say the intercontinental call is in talks to buy euro next. >>> and vows to continue the current government's battle against japanese territorial claims. >>> japan's central bank has decided to extend its asset purchase program to $120 billion. it will review the bank's stance on price stability next month. abe has been putting pressure on the boj to raise its inflation target to 2% as part of efforts to fight deflation. for more on the fallout or the impact here, let's talk to luca from asia pacific. you look like you're in mourning here, but it sounds like the bank of japan has delivered pretty much what the market was looking for the. >> yes. it was delivered in order to be seen as losing independence after the campaign, very aggressive campaign from the ldp party on the bank of japan independence. actually, what -- the only policy they didn't really try, according to ldp, was being extremely aggressive, not as -- or much more aggressive than what the
. and so, they were desperate for the united states to open up the second front to western europe and the british. roosevelt's stalin to send molotov the top general to washington in may of 42 and in june of 40 to the united states issued a public statement saying we are going to open up the second front before the end of the war, before the end of the year 1942. we promise that publicly and get we don't open up the second front until june of 44 and that is partly because the british refused to go along with this. the united states and the british get involved in what marshall calls peripheral and marshall and eisenhower opened up a second front and the united states when instead to basically defend the british empire. there was going to be a lot of mistrust between the united states and the soviets particularly during the war. the seeds of the cold war actually are visible during the war. in certain tensions of course because the second front is the soviets had on their own and largely defeated the germans after stalingrstalingr ad and for pushing toward central europe and easter
, more green than red on the board today. by three to two, gainers outpacing losers. now, europe was closed yesterday. there was trading in the u.s. it was a weaker session. that move did extend to some parts of asia overnight. interestingly enough, the shanghai composite down .6%. the hang seng was higher on the day. the nikkei adding .9%. the kospi was up even though south korea growth projections were lowered. european markets as we look across the major bourses give you a sense of the action we're seeing in the xetra dax which is about to have its best year in seven years, something like that. the ibex 35 is rallying as we get a further sense of how little value bon can i a has. the ftse mib is moving higher, too, adding about .1%. take a quick look at the bond space, the yield for spain and italy is moving higher today. but roughly as relevance we've seen predominating over the last couple of weeks. that is around 5.3% for spain. 4.5% for italy. we did see guilds moving about 3% level. now back below 1.9%. stick around because straight ahead, we get a view from one economist
you very much. a key session in japan overnight. >>> as we pivot our focus to europe, you see stocks addi adding .3%. consistent with the rally we've seen over the last several trading sessions and apparently having plenty to do with the possible resolution of u.s. fiscal talks. we'll have more in a little bit. the survey also helping to lift sentiment or keep it buoyant. look at the major borses. green in the harder hit regions. ftse mib, spain up better than 1%. consistent with the rally we saw yesterday. remarkable. the xetra dax adding .1%. for its part, up to close to 30% this year. the ftse 100 adding .3. the bond space, we'll look at that and talk later about the big trades that have helped some hedge funds, for example, when it comes to greek debt. for the time being, mario's comments this summer is have techively kept the bond gleelds a tight range since then six months or so now, this is going. and differentiation across the space where italy price rising, not the case for spain which is seeing its yield up to 5.3. and i know we haven't mentioned this in a while, but i want
see stock markets in asia and europe up a bit. i think their expectation that washington will come to an agreement, i think that might be too early. i think this is still a very clear possibility that they could allow the deadline to pass and resolve this sometime in the middle of january. >> well, any red lution would be welcome. the cost as well, but these spending cuts and the tax rises effectively, the end of the tax concession, that's automatic. >> that is automatic yes but there is question where the money can be found if you like to plug the gap. they wouldn't have much impact for a while. but ultimately they would. and the difficulty is not necessarily the fact that the deadline, this deadline, which is some extent of official anyway would be overrun. it's more the uncertainty associated with it. how can you plan if you don't know what the tax rate will be? >> here in europe, one of the banks that caused a huge flurry at the time of its impact -- >> this could be a laymen of europe. we've had the euro in crisis which was sparked by soveren debt, which then destabilized debt
hikes, europe's grand experiment with taxing the rich more is falling apart, especially in france and britain. and here at home, california and new york are passing through the 50% tax rate barrier. is anybody looking at how tax hikes fail the test of economic growth? >>> back here in the u.s., could it be michigan which used to call itself the worker's paradise union state is now moving towards new anti-union right-to-work legislation and it looks like it's going to pass? but first up, budget talks resume between speaker john boehner and president obama today. with just 25 days to go, let's keep tabs on where we stand. reports of a conservative backlash against speaker boehner simply not true. he has the solid support of his leadership and the rank and file. but there is concern among some in the gop that they are at risk of becoming the party for rich people while president obama and democrats stake their claim on the middle class. and my tax rate flexibility with higher -- here's what the president said earlier today. >> i'm not going to sign any package that somehow prevent pr
desperate for the united states to open a second front in western europe and the british, and roosevelt asked stotland to send the top general to washington in nabf 42 and in june of 40 to the issue a public statement saying we are going to open up the second front before the end of the war before the end of the year in 1942. we promised that publicly. and yet the open up in june of 44. that's partly because the british refused to go along with this and that the british get involved in the periphery in northern africa. they are serious but they didn't open up the second front with the united states brought instead basically to defend the provision higher. >> how does this link to the cold war? >> there's been to the mistrust between the soviets beginning during the war treatise of the seeds of the cold war are visible during the war. there are certain tensions of course because the fact that they delayed the second front know that the soviets had on their own largely defeated the germans after stalin and rather what pushing it across central europe and eastern europe moving towards berl
for the united states to open up a second front in western europe, and the british and roosevelt asked stalin to send molotov, a top general to washington in may i've '42, and june of '42 the united states said we are going to enup a second front before the end of the year in 1942. we promised that publicly and yet we don't open the second front until underof '44 and that's bass the british refused to go along with this and the united states and the british get involved in what marshall called periphery pecking in northern africa. marshall and eisenhower were serious. >> how did this lead to the cold war? >> because it led to a lot of mistrust between the united states and the soviets beginning -- the seeds of the colored war are visible during the war. and certain tension because the fact there was a second front, meant that the soviets had on their own to see that the german s -- were pushing across central europe and moving toward berlin, so we lost the military mission and on to diplomatic so there are doles being made between churchill and stalin of -- >> dividing up -- >> yeah, the brit
that is necessarily the right body to do it. it certainly does not think that all 6000 banks in europe should be involved. france on the other hand -- france and spain leading the charge, saying that this must be done now. financial markets are being very good and not panicking, but if they see continued failure of eurozone finance ministers to agree to this, we might get the restoration of finance of duties, which of costa much trouble in recent years. the deadline for agreeing is no overarching bank advisory super body is meant to be in place on january 1. it does not look likely, and a lot of frustration at this meeting today with the sides deeply divided and no sign of agreement. that, of course, is the basic issue -- why has there not an overarching supervisory control? precisely because it was difficult to do then. the eurozone crisis highlighted that failure, and we've still got the same problems blighting the regular meetings of finance ministers. >> despite the eurozone crisis, german exports are still robust. >> we will have the latest on the german export data later on in the progr
in europe and america. it is all about jobs. that is when it comes down to. these are countries who have lived with decades of authoritarian rule. in tunisia, 75% of its exports go through europe. there is also a physical problem. you need a leadership concentrating on the right issues. there is a criticism here. in tunis, the leaders are too bogged down in political battles. the role of religion in the street -- state. two years of feels like a long time if you are waiting for a job. >> a long time indeed. stay with us all of this week for special coverage of arab spring anniversary. we have a special section on our website looking at the political changes in the region. just go to bbc.com/arab uprisings. shattered and her broken, the two australian deejays to make a prank call to the hospital said they feel after the death of the nurse then spoke to. the two radio personality speak about what they say was a tragic turn of events that no one could have predicted. our royal correspondent has the latest. >> they have made the journey from the family home in bristol. floors have been place
to market internationally in the way that moore really seemed to fit with the modern movement across europe and the world. so an agency like the british council, looking to promote british culture and a new view of britain as a great power but coming to terms with the aftermath of the second world war, would listen to these voices telling them that moore is the great artist around at the moment. (narrator) that international stature permitted moore to work on a larger scale, a dream since the early '30s. he could now afford to hire assistants, including anthony caro, who would go on to a successful career of his own, with works like the national gallery ledge piece, installed in 1978. i thought he was the most interesting sculptor around. and really, i went to ask him if i could work with him, work for him, because i'd had too traditional a studentship. a studentship, really, where we were taught by people who thought that art was about nymphs and fawns and generals on horses and that. i used to drive him into london from much hadham and we'd talk about art. we'd have little conversations a
of liters of maple syrup they are missing. europe khas weather is looking unsettled at the moment. we -- europe's weather is looking unsettled at the moment. torrential rain, leaving more than 100 flood warnings in force, and yet more weather systems moving in from the west. flooding issues here leading up to christmas. elsewhere, we are seeing some significant snowfall over the last day or so, causing problems across much of the country. we are expecting improvement here. the snow tending to move away. ukraine seeing heavy snow, desperately cold weather here in. as for the west, we are seeing that rain pushed in across the uk, down into much of france. flooding is likely. it should be fine across much of the iberian peninsula, 15 degrees expected in madrid. further east, this extends through north africa, so for both tripoli and benghazi, it will be cloudy, the chance of some showers. 19 degrees in cairo as a maximum. along the coast, for the west, whitely dryer -- likely dryer. solutions for america, friday, 7:00 p.m. eastern, 4:00 p.m. pacific. >> hello again. top stories on al jaz
idea what he was saying. turner traveled throughout britain and europe. often on foot, carrying a paintbox, he sketched and painted lyrically beautiful landscapes that changed the face of british art. when he died in 1851, he was one of the wealthiest and most famous artists in britain's history. throughout his career, he was always well aware of the key to his success. (reader) "the only secret i have got is damned hard work." (narrator) turner's life and career began in london. by 1788, at the age of 14, j.m.w. turner was apprenticed to an architect as a draftsman. architectural views appeared in his works throughout his life. the next year, turner entered the royal academy of arts school at somerset house. its president, the painter joshua reynolds, endorsed the prevailing view that ranked paintings in a clearly defined hierarchy. history painting was considered the noblest because it could portray events drawn from historical incidents, literature, the bible and mythology. genre painting, scenes from daily life, came next because they also offered examples of virtue to inspi
and nuclear weapons. it will result in weapons ownership. look at europe. look at japan. look at the rest of the world. we are way, way out there. we have the highest murder rate in the world. it hasn't protected us. it has resulted in arguments that should have a consequence of maybe a slap in the face, resulting in a bullet through the heart. it results in a double-murder in this case, a murder/suicide. guns don't protect. they cause suicide. >> let me bring in -- >> they cause suicide? >> i can promise, i'll get back to you, carol. here is what they say to me. i've had it all. but trying to get a debate going. i've been on two years on cnn. in that time, there's been a series of gun rages. each time it is the same debate and nothing gets done about it. 300 million guns and you have between 11,000 and 12,000 guns and murders a year. by comparison, britain has 35 as does germany and australia. japan has one or two. to countries that have strict gun control have very little gun murder. what do you say to americans who say it makes me feel safe? >> i think carole had it right. she said it
. the seven years war changed the map of the world shifting national borders in europe, in africa, in india, and elsewhere. it leveled thousands of towns and villages in europe. killed or maimed more than a million soldiers and civilians, and bankrupted a dozen nations including england and france. remember, it started in britain's north american colonies, and the british government and british people naturally thought british subjects in british north america should share the costs of the war with their fellow citizens in britain. in fact, the government raised property taxes so high in britain that farmers rioted in protest and demanded that americans pay their fair share of the war. in 17 # 64, the british government extended to the colonies a stamp tax that everyone in britain had been paying for more than 70 years. it amounted to next to nothing for the average citizen, a pepny or two or a stamp attached to legal documents, publications, and the packages of non-essential products like playing cards. the harshest effects of this tax, however, were on members of three powerful special in
ownership. look at europe and the rest of the world. we are way, way out there. we have the highest murder rate in the world. >> abbey, here is what they say to me. each time it is the same debate and nothing gets done about it. 300 million guns and you have between 11 and 12,000 guns and murders a year. britain has 35 as does germany and australia. to countries that have strict gun kcontrol have little gun murder. i think carole had it right. she said it is about personal responsibility. that is the most important part. it is a difficult one. people are going to have an oh w pinion about it. we have to make sure that they were -- wanted the american people to feel protected about the british at the time. i don't think people should be able to go online and buy guns. there should be rules in place on background checks. our country is founded on these freedoms. i totally respect the constitution by the way. what i don't respect is what i don't respect is the interpretation of the letter of the second amendment of the constitution which i think is being misused to endorse everyone in america
't export to europe. but instead of talking about that, he lashed out an audience that was almost all jewish, he lashed out on him and he said you are a must stop making interest of the lead to a hitler from the great dictator, as he stopped making and a german, and i hit local antinazi films, you are going to cause the next war millions of american boys aren't bickel and blood will be spilled and will be the worst outbreak of anti-semitism that this world has ever seen because everybody is going to win a remedy in this country is going to blame the jews. by 1940 he was a total absolute praia nobody wanted to touch him. nobody could join the first immunity and sign up with lynn burba but he didn't want to do that because he knew that if he did that, there would be no place in politics for his children ever, ever, ever. so he didn't. he stayed quiet. the marrec was part of the stories, the part i'm not going to be able to tell you the you will have to read in 1940 he was the kennedy name was dirty. it was dirt among the isolationists because kennedy didn't come out against roosevelt. again be
's largest trading partner, europe's economy remains on prepares you footing despite several months of relative calm and there's a growing debate abt whher e u.k should lead the e.u. earlier this month we covered the "economist" magazine read "good-bye europe, look what happened when britain left the e.u. " i'm pleased to have george osborne back on this program and back at this table. >> thank you very much. >> rose: you're in new york city for a speech at the manhattan institute. >> i did that last night and had some meetings on wall street, seeing them there later. >> rose: so what's your message about the british economy to manhattan institute as well as the mayor and wall street? >> well, the basic message is itaiis on for business. if you want to come and invest in a country that is dealing with its problems, cutting its business taxes, providing opportunities for companys to go britain is the place. i think we're doing better. >> rose: you do? >> i certainly do. >> rose: the numbers don't look like that. >> well, actually, look at the u.k. compared to many western economies,
of films. the film come is going to do if they could export to europe. but instead of talking about that, she lashed out at an audience that is almost all jewish. he lashed out at them and say stop making anti-hitler films. unless you stop taking anti-german, anti-hitler, anti-nazi films, you're going to cause the next work. boys are going to be killed, blood will be spilled and there'll be the worst outbreak of anti-semitism in this world ever seen because everybody is going to blame everybody in this country is going to blame the jew's. by 1940, he was a total absolute pariah. nobody wanted to touch him. if you wanted, he could have a chilling the america first community, signed up with lindbergh. but he didn't want to do that because he knew if he did that there'd be no place in politics for his children at her,, ever. so he stayed quiet. there are actually as part of the story is the part that i'm not going to be that tell you, that you're going to have to read. [laughter] in 1940, he was a kennedy name is in the dirt. it is dirt among the isolationists for kennedy to comment against
and if we want to make progress to cut unemployment benefits and things like that the war in europe and united states began preparing. we have our military buildup it would increase 20% 27 million jobs right now. it turns out there wasn't enough spending in the economy they could and should have been spending more on the government and thanks to the method it's the same thing right now. there is overwhelming contribution that this is the time having the government spend more would be freed, putting people to work with the unemployed that would be basically doing nothing and essentially it is very easy and very hard politically because it is hard to persuade people about the need to do that which is why some of us books. [laughter] >> some of those would argue it's like a sugar pill for the transient work of time and then you fell back. i think it's a very interesting story. why did little more to, why didn't we strike back in the depression? in fact there was montgomery ward was a major kept waiting for the depression to comeback basically lost their position in the marketplace. it
of the army? >> they are roughly 123,000 total. but pago is roughly the size of western europe. there are about 6000 deployed. no, that is the minusco, 6000 deployed in the east purdum i do not know the exact number of the congolese military in the east because it is a vast amount of area they are trying to cover with military troops. >> why is this such a big issue for the drc in order to be able to basically prevail in this situation? >> a slight provision -- revision. i think probably today, the m23 probably has up to 2000 troops. the sign -- i think he has pointed out the size of the congo, but i think it is important to graphically described the congo as a country that is as large as the eastern part of the united states from the atlantic to the mississippi. it is an enormous country, and since the split of sudan, it is geographically the largest in africa. the eastern congo is one of the most of a cold areas in which to operate -- one of the most difficult areas in which to operate. it is deeply for arrested in some places. and in -- is deeply forested. in some cases, a d
in europe in june 1940? >> the war had started in september 1939, peter, and germany had overrun poland. hitler's idea at this point was to invade france and knock britain out of the war thereby. with the intent later on to invade the soviet union. he hated communism. this is one thing that was really part of his agenda. he was actually going to invade france in the wintertime, ma in november-december. he had to put that off because -- spent of 1939? >> of 1939. because of the invasion plans fell into the hands of the french and the british, soy put off the invasion until may, and he came up with a new plan. the old plant actually had been similar to world war i. it was going to come through belgium, along the channel coast, and down into paris. but he had to completely rearrange that, and he came up with you do, one of his generals, to think through belgium, but send the majority of these armored power through the our danforth further south and coming behind any french and british armies that went into belgium once the war started. and this worked perfectly, beginning may 10 of 1940»
of consultation in the international regulators, canada, australia, japan, europe etc. and we continue to work the issue. i would say with banks registering the largest banks registered in the term, we are going to have more issues to sort through and we are committed to soaring through -- >> you are not talking of those that registered when you are making that statement. just the firms that register. >> but i have some expressions from some of the foreign regulators that they feel like some of the guidance may be in conflict with their loan regulator, their own that regulation and i guess that is what i am saying. if they are in conflict how are you dealing with those conflicts? >> the one example was in japan they have a clearing requirement. they actually put in place november 1st and we now have a requirement that we finished in november. there is a conflict because we both say they have to be cleared and registered clearinghouses. yet they have yet to register the london clearing house and we have yet to register the japanese clearing house. we are relieved they can use the japanese clear
fractionally. other news out of europe, debt tieback for from an day to receive additional buyback offers. those would be at deeply discounted prices and that would help lower the country's debt lead. >>> in asia, stocks touched a 16-month high and closed mostly higher on the session with good gains, as you can see, with the kospi up the most, 1.5 points. >> strong nebs out of china which suggest maybe the economy is rebounding more than expected. >> the exports. >> yeah. >> among the catalyst in asia trading today, economic stats out of china. export growths slowed sharply to 2.9% in december. that news j underscores the global headwinds dragging on the economy. but the chinese economy is showing solid signs of a pick up in domestic activity. industrial output was stronger than expected. the country has been saying for years it needs to shift a little bit from the export model the internal consumption. let their middle class grow and not be nearly as dependent on exports. and china's oil demand in november surpassed 10 million barrels per day for the first time ever. the country's crude
've been hearing our guests across europe telling us they are worried about the way we can see markets trade lower once people come back and realize we haven't had any agreement reached on the fiscal cliff. and that essential doesn't look likely at this point. >> okay, kelly. i couldn't help detect a little -- i mean, you're over there now. you're international. the most important story of 2013 is something with japan? >> yes, joe. >> though, no, no. it's here. >> yes, yes, nope. >> that's the third biggest thing. that's a little tail. that doesn't wag the big st. bernard that is the united states. >> here is one reason. japan isn't necessarily important because of the size of its economy. so if you're talking about global gpt growth, the u.s. is still the juggernaut there. >> fiscal abyss. fiscal abyss. >> japan is not only the leading gauge of what is happening across europe, but potentially what could happen in the u.s. if these policies aren't -- enough. it's will case of this extremely high debt load, something we're discussing in the u.s. and europe right now. if it manages to en
, a message of hope to occupied europe and of course in 1940 and 1941 an a meal for great support for the united states. >> give us the tool and we will finish the job. >> one of my favorite documents within the exhi business, churchill was in new york in december 1931. and was knocked down by a motorcar on fifth avenue at 76th street. and it was the classic mistake of the brit in america and he got out of his taxic-- taxi, looked the wrong way and was immediately hit by a car going the other direction. what he did was two things. he wrote an article on what it was like to be hit by a motorcar. but he also managed to persuade his doctor in prohibition era new york to write him a prescription necessitating the use of alcohol at all meals. >> rose: joining me now is celia sandys, winston churchill's granddaughter, david reynold-- renolds of cambridge university, peter clarke on the recently published mr. churchill's profession and i am pleased to have all of them here at this table. thank you. >> rose: i so looked forward to this i was go-going to tell a story that i once went to se
appreciate it. ? thank you. >> europe's fiscal woes dominated the american markets most of the year. >> the fragile european economy not out of the woods just yet. here is jimmy pathakukas of the institute. it was "barron's" just this week. this is the year to invest in europe. do you disagree with that or can the two work together? >> well, you know, they say the united states don't fight the fed. in europe you would say don't fight the ecb as long as they believe that they would do whatever it takes to keep the euro together, i guess that's a positive, but remember, you have an economy back in recession that was in terrible shape to begin with and i think you have a lot of austerity fatigue going on spain, italy, portugal, certainly greece. so you have those economic woes. the euro is not going to thrive and it may survive thanks to the ecb, but you're not going to get that economy to thrive, and the fiscal union ask those are very slow going and though they may be moving quickly by european standards and i've been given the magnitude of the problem going very slowly. >> how shoul
companies going to do if they couldn't export, right, to europe? but instead of talking about that, he lashed out at an audience that was almost all jewish. he lashed out at them, and he said you guys unless you stop making anti-hitler films, the great dictator -- charlie chaplin's great dictator -- unless you stop making anti-german, anti-hitler, anti-nazi films, you are going to cause the next war. millions of american boys are going to be killed, blood will be spilled, and there will be the worst outbreak of anti-semitism this world has ever seen because everybody is going to blame everybody in this country is going to blame the jews. by 1940 he was a total, absolute pariah. nobody wanted to touch him. if he had wanted, he could have joined the american first community, you know, and signed up with lindbergh with, but he didn't want to do that, because he knew if he did that, there'd be no place in politics for his children ever, ever, ever. so he didn't. he stayed quiet. the miraculous part of the story is the part that i'm not going to be able to tell you, that you're going to hav
, china, europe, whatever, the s&p 500 up 12.1% year to date. that is a good year. that is an optimistic year. why is that? >> it seems like we're forgetting about that, doesn't it? with all this talk about what's happening going forward and concern about corporate growth. and truly, we're concerned about corporate growth as well because there really hasn't been that long-term information from our government, from our policyholde policyholders, no economic policy in real investment in assets that we've seen. that's going to be a problem going forward, not to mention the global slowdown, and we're hitting the top of corporate profits now. >> so you don't agree with this. you're turning bearish. >> not bearish in a sense of going forward intermittently. we think that most likely, we're going to see some growth hitting in the second quarter of next year. until we get through this fiscal cliff nonsense, until we see some growth coming out of china and europe, i think that -- >> china i think is showing growth. europe may not show growth in my lifetime, but they're going to be bailed out. do
sales. figures show auto sales in europe shrunk by over 10% in november. >> that was the 14th month in a row that purchases declined according to the european automobile manufacturers association. buyers in italy, spain, and france proved especially wary. only britain bucked the trend with a rise in new car sales. a decade it has been since the inclusion of the german media empire. the state appellate court in munich today ruled that deutsche bank must pay damages to the heirs of the deceased mogul. >> the court ruled that the former ceo of deutsche bank, seen here, was responsible for the collapse of the world's largest licenser of film rights. in an interview, this credit worthiness was question, driving the conglomerate into bankruptcy. damages are expected to range anywhere from 120 million euros to 1.25 billion euros. it was also a big topic at the frankfurt stock exchange today. our market correspondent gave us this report from the trading floor. >> for the deutsche bank, this verdict is more than just a verdict because it weighs heavily on the image of germany's biggest bank.
honorable friend goes to a summit tomorrow. has he noted the federalization of europe? the parliament and only it is insuring democratic for the you? does he agree with this? >> i do agree with my honorable friend on this one. it is the national parliament that provides the real democratic legitimacy within the european union when we are discussing a banking union, it is to this house that represents our task appears that we should account. i bear that in mind when i am negotiating. >> can the prime minister confirm the statement reveals the government is now borrowing 212 billion pounds more than it previously planned to? >> i would take this with her plans were not to borrow even more. he was desperately disappointed it was predicted orlin would come down this year. that is a fact. >> the prime minister has rightly said we are locked in a global economic race. does he share my concern that having the highest aviation taxes in the world makes it harder for a business to compete and he increases the cost of living? let me ask the treasury to conduct a full review of whether it costs m
popular surge. >> eastern europe after the war, it's a black hole, actually in european history, very few people know very much about it. one of the points of writing the book was to put together both work people have done in other langes and also to use archives and interviews to tell a story that hasn't been very well told. how it is communism took over the region, how is it done. >> how quickly after the end of world war ii did the iron curtain, communist take over europe? >> it actually happened quite fast in the sense that when he red army came into the region, they were already prepared. they didn't know how long it was going to take and didn't have a ten-point plan but they began trying to control key institutions from the beginning, including the secret police, and also the radio and various -- other parts of the society they considered important. that one from from '44 or '45. >> where were the strongest areas of resistance? >> probably in poland. there was an armed resistance, the partisans, who were operating from the woods, particularly in eastern poland, and they were -- >> l
winter, the u.n. said that ukraine was the worst hit by severe cold in europe. more than 100 people died then. now volunteers are urging everyone to do everything possible to save lives. the government is opening temporary shelters for homeless people around the country where they can warm themselves and have a hot drink. many have complained that very often these shelters on and on the outskirts of major cities of sometimes too hard to find. >> you need to take a bus to get there but i don't have any money to pay for my fair. i don't think i would be better off there. >> many homeless ukrainians will have to spend the new year holiday in these temporary shelters. according to weather forecasts, if a bit warmer in the ukraine in january. >> an ambitious mission to drill through 3 kilometers of antarctic ice has been cut short. they aimed to explore a lake that had been hidden for half a million years. the project to find hints of simple life existing in these extreme conditions. however, they failed and the team was forced to abandon the project. >> this is science at his toughest into t
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